I’m working on an accounting discussion question and need an explanation and answer to help me learn.
Think about your current financial situation and where you want to be after graduation. Most students plan to earn more money after graduation. If that’s true for you, that would change your financial situation. Think about how your financial life will change. What might be different? What steps would you need to take to reach that financial future?
Respond to the following in a minimum of 175 words:
Think about 2 or 3 long-term financial goals you have in your own life (e.g., savings account amounts, a trip, retirement, paying off debt, etc.). As you read this week, what did you learn about yourself that will help you achieve these long-term financial goals? What changes could you make now to achieve those long-term financial goals?
Focus on 1 of the long-term financial goals you identified. Consider what you read about compound interest and the time value of money. Use the Compound Interest Calculator from Investor.gov to gain a broader perspective on your chosen long-term financial goal over 10, 20, and 30 years. What does the calculator show you about the time value of money and compound interest? You don’t have to provide specific details, but discuss what you observe.